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Bailout request: IMF Mission team arrives in Ghana to conduct second review

IMF Mission Chief For Ghana, Stephane Roudet IMF Mission Chief For Ghana, Stephane Roudet IMF Missio IMF Mission Chief for Ghana, Stephane Roudet

Tue, 2 Apr 2024 Source:

Mission Staff from the International Monetary Fund (IMF) have arrived in Ghana to conduct a second review of Ghana’s IMF-supported programme which will pave the way for the third installment of the $3 billion bailout request.

On April 2, the IMF team is anticipated to start reviewing Ghana's 17th IMF plan. This comes after the nation received a second tranche of the bailout fund and successfully finished the first review.

The Mission team as part of the review will assess Ghana’s performance against the Fund’s program objectives spanning two weeks. They will scrutinize economic recovery measures, fiscal management, and structural reforms.

It is expected that the outcome of the IMF’s review will have some implications for Ghana’s economic recovery path and its ties with global financial institutions.

The IMF mission team will meet with key government officials including the Minister of Finance, Dr Amin Adam, Bank of Ghana Governor, Dr. Ernest Addison, and civil society organizations, among others.

Government through the Ministry of Finance says it remains confident that the country will undergo a successful review of the IMF programme to unlock the third tranche of the IMF bailout consisting of $360 million by the end of June this year.

Meanwhile, the government is yet to conclude negotiations with its bilateral and commercial creditors for a debt swap of external debts.